
*libname TP_Data "The location of the data folder\TP_Pseudo";


*** Table 1 ***;


** Panel A **;

Proc  report data=TP_Data.Table_1_Panel_A ;
column year
 No_of_T3_Brokers 
	Pct_of_IBES_Brk_with_T3 
	Pct_of_Stocks_covered_by_T3_Brk 
	Pct_of_Buy_Stk_at_T3_Brk ;
run;


** Panel B **;

Proc  report data=TP_Data.Table_1_Panel_B ;
column year
	No_of_Top_Picks 
	No_of_Brokers_Issuing_TP 
	Pct_of_TP_by_T3_Brokers 
	Pct_of_TP_by_T3_Brk_switched
	Pct_TP_of_Buy_Stocks_at_T3_Brk;
run;



** Panel C **;

Proc  report data=TP_Data.Table_1_Panel_C ;
column 
	TP_Coincides_w_Cov_Init TP_Coincides_w_Rec_Upgrade TP_Coincides_w_Rec_Reitr TP_Coincides_w_Rec_Announc;
run;

** Panel D **;

Proc  report data=TP_Data.Table_1_Panel_D ;
column month
	TP_Pct_Distribution;
run;


** Panel E **;

Proc means data=TP_Data.Table_1_Panel_E mean;
class TP;
var fexp gexp portsize Portfolio_Complexity Broker_Ind_spec All_Star Average_Rec_Return  Average_PMAFE Top10_Broker Investment_Bank;
run;


Proc ttest data=TP_Data.Table_1_Panel_E plot=none;
class TP;
var fexp gexp portsize Portfolio_Complexity Broker_Ind_spec All_Star Average_Rec_Return  Average_PMAFE Top10_Broker Investment_Bank;
run;


** Panel F **;

Proc means data=TP_Data.Table_1_Panel_F_Col_1_2_3 mean t;
class TP;
var CAR_0_1;
run;

Proc ttest data=TP_Data.Table_1_Panel_F_Col_1_2_3 plot=none ;
class TP;
var CAR_0_1;
run;

Proc means data=TP_Data.Table_1_Panel_F_Col_4_5 mean t ;
class TP;
var CAR_0_1;
run;

Proc ttest data=TP_Data.Table_1_Panel_F_Col_4_5 plot=none;
class TP;
var CAR_0_1;
run;

